Oct 4, 2011
It feels like 1998 and 2002 all over again – when the corporate finance community last faced the threat of imminent deadlines, related to Year 2000 implementation and Sarbanes-Oxley compliance, respectively. In 1998 and 2002, we had two years to prepare, plan, budget, and worry. The ambiguity, pressure, impedance, and anxiety that we experienced then have all come roaring back. This time, it’s the deadline for complying with the new IFRS lease accounting standard changes that loom ahead of us.
The . . . read more
Sep 20, 2011
The joint FASB/IASB (“Boards”) Leases project is entering the final redeliberations phase, with the goal of issuing a revised Exposure Draft (ED) in November 2011 for a 120-day comment period. At this time, it appears the Boards will likely issue their new standards in mid-2012 with an effective date in 2016. For comparability purposes, the new standard will generally require restating the accounting for outstanding leases in all prior periods presented. As of the date of this article, the Boards . . . read more